Insurance
Thread Starter
Racer
Joined: Sep 2016
Posts: 312
Likes: 12
From: Tipton In.
Insurance
I'm guessing this question has been around before. I just sold my 75 and replaced it with a 04. I had been using Haggerty for my insurance on the c3 and was wondering what most of you guys use on your c5's. After getting the 04 I contacted Haggerty and their quote was double what it had been on the c3 with the same vallue coverage. I then contacted NCM and their quote was considerably cheaper than Haggerty but like Hagerty one is really limited when and where it can be driven. When I had the c3 it didn't bother me about the limitations but with the c5 I would like to drive it more. So the question is what are most of you guys using for insurance. Classic insurance or regular insurance. Regular insurance is just about double for the year what NCM wanted for classic. But I could always go to storage in the winter and save some. Thanks Larry
Drifting
Joined: Jul 2017
Posts: 1,365
Likes: 471
From: S.E. Pennsylvania
You'll receive numerous replies with this question with varying dollar amounts from various members. There are a lot of companies out there that charge fair amounts for restricted driving, and more for "regular" non-restricted usage. What I would advise you to do is check with the name brand companies for the restricted rate and also the non-restricted rates.
Also check to see if they will allow you to suspend coverage for storage. Some do, some don't. Some states do, some states don't. The companies that offer rates for antique and classic cars are usually the lowest, but not always. Most have major restrictions. Only you can decide how much you want to pay and what rules to follow. GOOD LUCK!
Also check to see if they will allow you to suspend coverage for storage. Some do, some don't. Some states do, some states don't. The companies that offer rates for antique and classic cars are usually the lowest, but not always. Most have major restrictions. Only you can decide how much you want to pay and what rules to follow. GOOD LUCK!
Race Director
Joined: Apr 2017
Posts: 10,247
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From: Hickory NC
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You'll receive numerous replies with this question with varying dollar amounts from various members. There are a lot of companies out there that charge fair amounts for restricted driving, and more for "regular" non-restricted usage. What I would advise you to do is check with the name brand companies for the restricted rate and also the non-restricted rates.
Also check to see if they will allow you to suspend coverage for storage. Some do, some don't. Some states do, some states don't. The companies that offer rates for antique and classic cars are usually the lowest, but not always. Most have major restrictions. Only you can decide how much you want to pay and what rules to follow. GOOD LUCK!
Also check to see if they will allow you to suspend coverage for storage. Some do, some don't. Some states do, some states don't. The companies that offer rates for antique and classic cars are usually the lowest, but not always. Most have major restrictions. Only you can decide how much you want to pay and what rules to follow. GOOD LUCK!
Excellent advice!
Pro
Joined: Apr 2017
Posts: 749
Likes: 242
From: Maryland
I've got regular insurance on my C5. I drive it year round, but I don't drive it every day, and I rarely drive it to work. On the policy, the use is listed as "Pleasure", though I'm honestly not sure exactly what the restrictions are, if any. I do have full coverage for Collision and Comprehensive. The yearly rate seems reasonable to me. Hope that helps.
Thread Starter
Racer
Joined: Sep 2016
Posts: 312
Likes: 12
From: Tipton In.
You'll receive numerous replies with this question with varying dollar amounts from various members. There are a lot of companies out there that charge fair amounts for restricted driving, and more for "regular" non-restricted usage. What I would advise you to do is check with the name brand companies for the restricted rate and also the non-restricted rates.
Also check to see if they will allow you to suspend coverage for storage. Some do, some don't. Some states do, some states don't. The companies that offer rates for antique and classic cars are usually the lowest, but not always. Most have major restrictions. Only you can decide how much you want to pay and what rules to follow. GOOD LUCK!
Also check to see if they will allow you to suspend coverage for storage. Some do, some don't. Some states do, some states don't. The companies that offer rates for antique and classic cars are usually the lowest, but not always. Most have major restrictions. Only you can decide how much you want to pay and what rules to follow. GOOD LUCK!
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Up until about a few weeks ago, I had the NCM insurance on my C5. I never had a problem with them but I just decided that I wanted to drive my car more than the restrictions allowed so I switched to American Family Insurance. Premium was about the same for pleasure driving, no restrictions, but I did give up the agreed value feature of the NCM insurance.
Drifting
Joined: May 2010
Posts: 1,839
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Cost will depend on whether you'd want to retain an "Agreed Value" between you and the insuring company. Using that option may raise your cost of coverage. It also depends on your credit/driving history, and where the vehicle will be stored and driven.
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Pro
Joined: Jul 2018
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From: Sarasota, Florida
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I also went from 75 to a 04 with agreed value of 19K on both and my Hagerty insurance didn't move.
Now, I did though from WI to FL but my rates are the same.
Now, I did though from WI to FL but my rates are the same.
Thread Starter
Racer
Joined: Sep 2016
Posts: 312
Likes: 12
From: Tipton In.
I had agreed value of $15000 and the cost on the 75 was around $200 and when I went to the 04 with the same value the cost went to close to $400.
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
Up until about a few weeks ago, I had the NCM insurance on my C5. I never had a problem with them but I just decided that I wanted to drive my car more than the restrictions allowed so I switched to American Family Insurance. Premium was about the same for pleasure driving, no restrictions, but I did give up the agreed value feature of the NCM insurance.
Intermediate
Joined: Jan 2018
Posts: 39
Likes: 17
From: Bastrop Texas
I have my '99 insured through The Hartford. Agreed value of 15K and it runs me just over $200 per year. Only restriction is can't be used as a daily driver... pleasure only. No mileage restriction or anything else. Very happy with them.
Le Mans Master
Joined: Sep 2016
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Burning Brakes
Joined: Apr 2005
Posts: 1,097
Likes: 105
From: Ft. Worth / Dallas Great state of Texas
The Hartford sounds like a great deal and I might have to check them out in the future, but you do have to be an AARP member or someone in your household has to be a member.
I pay a little above $600 for full coverage through Traveler's Insurance on a pleasure 2004 z06, including 50/100/50 coverage along with uninsured motorist coverage but the policy does not include an agreed upon value.
My renewal comes up next month, so I will be doing some comparative quotes(keep in mind they are soft inquiries and do not lower your credit score if within 30 days).
Here is where I personally start...
Start at your state insurance commission's Web site, which usually lists several dozen of the area's top insurers. Choose the half dozen or so companies with the lowest prices for coverage that's closest to what you need. Next, check the reputations of insurers by going to the NAIC's Consumer Information Source Web site to find the "complaint ratios" for each. Complaint ratios show the number of complaints that consumers filed against a company in a given year and then compare this to the company's share of all premiums for a specific type of auto policy during that period. The national median is 1.0, and highly rated companies can score well below that.
Here's exactly how to see where your candidate companies stand. In the search box on the right side of the Consumer Information Source page, type in the name of the insurance company you want to research, your state and "Property/Casualty" for the statement type. From the results page, click on "Closed Complaints." To see complaint ratios for the company's auto insurance policies, choose "Closed Complaint Ratio Report" and "Private Passenger."
If a company's ratio is substantially higher than the median, go back to your state insurance commission's Web site to see if regulators have taken action against them. With that information, whittle your list down to the three or four insurers with the lowest complaints. Then contact them directly or via a local agent.
I pay a little above $600 for full coverage through Traveler's Insurance on a pleasure 2004 z06, including 50/100/50 coverage along with uninsured motorist coverage but the policy does not include an agreed upon value.
My renewal comes up next month, so I will be doing some comparative quotes(keep in mind they are soft inquiries and do not lower your credit score if within 30 days).
Here is where I personally start...
Start at your state insurance commission's Web site, which usually lists several dozen of the area's top insurers. Choose the half dozen or so companies with the lowest prices for coverage that's closest to what you need. Next, check the reputations of insurers by going to the NAIC's Consumer Information Source Web site to find the "complaint ratios" for each. Complaint ratios show the number of complaints that consumers filed against a company in a given year and then compare this to the company's share of all premiums for a specific type of auto policy during that period. The national median is 1.0, and highly rated companies can score well below that.
Here's exactly how to see where your candidate companies stand. In the search box on the right side of the Consumer Information Source page, type in the name of the insurance company you want to research, your state and "Property/Casualty" for the statement type. From the results page, click on "Closed Complaints." To see complaint ratios for the company's auto insurance policies, choose "Closed Complaint Ratio Report" and "Private Passenger."
If a company's ratio is substantially higher than the median, go back to your state insurance commission's Web site to see if regulators have taken action against them. With that information, whittle your list down to the three or four insurers with the lowest complaints. Then contact them directly or via a local agent.
Drifting
Joined: Mar 2013
Posts: 1,496
Likes: 353
From: Little Rock Arkansas
I have my C5 under an umbrella policy through Allstate. I don't like all the restrictions that most Corvette oriented collector policies have and my umbrella policy is actually cheaper that most of them that I was quoted
^^^ A lot of states have insurance "brokers" and agencies that will shop for you to get the best policy; it's actually what I go through for my umbrella policy. I've been recommending everyone I can to go through these agencies as they can really save you a lot of money if you're willing to deal with umbrellas and balloon payments.
^^^ A lot of states have insurance "brokers" and agencies that will shop for you to get the best policy; it's actually what I go through for my umbrella policy. I've been recommending everyone I can to go through these agencies as they can really save you a lot of money if you're willing to deal with umbrellas and balloon payments.
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
I have my vehicles insured with USAA and I just contacted them about insuring a vehicle for a specified amount. They don't do it, and the problem with insuring the C5 the same as you do your daily drivers is that because of the C5s age, and the fact that it's not considered a collectable or an antique, if you happen to get in an accident with it and it's totaled, the insurance company isn't going to pay jack **** on it. Not only will you lose your Corvette, but you won't get anywhere near enough on your claim to replace it...
Last edited by grampi50; Aug 23, 2018 at 01:46 PM.
